Nigeria’s Minister of State for Petroleum Resources,
Dr. Emmanuel Ibe Kachikwu on Wednesday signed an agreement with the President
of the Republic of Niger, Mahamadou Issoufou and the Energy Minister of the
Republic of Niger, Mr. Foumakoye Gado to construct a refinery in the border
town between the Republic of Niger and Katsina State.
Although details of the agreement are still sketchy
at the time of ling in this report, a statement from the Ministry of Petroleum
Resources said, “A mutually beneficial agreement was reached for the
construction of a refinery in the border town between the Republic of Niger and
Katsina State, Nigeria and a crude oil pipeline from the Republic of Niger to
the new refinery.
The statement added that, definitive bilateral and
technical agreements to be signed in coming days. According to the statement,
in line with the commitment to collaborative work across the region to ensure
definitive solutions to the challenges of the downstream sector of the oil and
gas industry.
It will be recalled that the Nigerian National
Petroleum Corporation (NNPC) recently announced that it is inching closer to
arriving at the choice of financiers for the Port Harcourt Refining Company
Limited (PHRC), Warri Refining and Petrochemical Company Limited (WRPC) and the
Kaduna Refining and Petrochemical Company Limited.
The Group Managing Director, NNPC, Dr. Maikanti Baru
who disclosed this while briefing members of staff of the corporation on the
fuel supply situation in the country said the agreements on the potential
financiers for the refineries were being fine-tuned.
“We are pushing towards the final selection of our
financiers and we expect that when that is done, we’ll get the agreements and
present them to our board, meeting this month to secure their endorsement and
once we have the funding, we would start the rehabilitation of the refineries
towards a 90 per cent capacity utilization per stream day before the end of
2019,” Dr. Baru affirmed. The development holds the promise to boosting petroleum
products supply and distribution in the Country, the corporation stated.
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